In Wednesday's South Asia papers

13 August 2008 06:30  [Source: ICIS news]

THE TIMES OF INDIA

Front page

Gritty Saina fails to reach Olympics semis
India's ace shuttler Saina Nehwal crashed out of the Beijing Olympics after losing a gruelling quarter-final encounter of the women's singles badminton event here on Wednesday.

Musharraf likely to resign soon after August 14: Report
Pakistan President Pervez Musharraf has finally decided to step down soon after Pakistan Independence Day (August 14), according to Pakistan daily WAQT News here on Tuesday.

Business

SEBI approves NSE's plan
India's first exchange for trading in foreign currency derivatives is likely to go live on the National Stock Exchange (NSE)'s platform.

Industrial growth crashes to 5.2%
The signs of slowdown in the economy are getting stronger. After car sales fell 1.7% in July, the first quarter figure of industry's performance revealed another gloomy picture.

THE ECONOMIC TIMES

Front page

Stocks extend losses; banks worst hit
Stocks drifted lower after a weak opening tracking trailing global cues. Caution ahead of the SEBI board meet also kept the market subdued. Banking stocks extended losses. Midcaps, however, edged higher.

Chrysler accuses M&M of copying Scorpio design
Mahindra and Mahindra (M&M) and Chrysler are embroiled in a dispute over the front grill design and shape of the Scorpio. Chrysler alleges that M&M copied the design from its automobile marquee Jeep.

Ford exec says company can weather downturn
Despite the headwinds of a slumping US economy, tight credit, high gasoline prices and declining home values, Ford Motor Co's top American executive said he is confident the company has enough cash to weather losses and make a profit again.

Dubai announces three types of health cover for visitors
Immigration authorities here have unveiled three different types of health insurance policies for visitors to this Gulf metropolis.

THE BANGLADESH TODAY

Front Page

Massive administrative reshuffle soon to ensure fair polls
The government is not unnecessarily making delay in releasing the detained BNP chairperson, Begum Khaleda Zia, from jail. It will, of course, take some time to free the BNP chief from jail through abiding by relevant procedure, said Commerce and Education Adviser Hossain Zillur Rahman while talking to newsmen at his office at the secretariat on Tuesday after emerging from a meeting attended by advisers at the secretariat.

Special Court directs Hasina, others to appear on Aug 20
A Special Court at the Parliament Complex has directed Awami League president Sheikh Hasina and other accused in Mig-29 fighter plane graft suit to appear before it on August 20 in a bid to frame charges against them.

Business

VAT, Tax depts to be merged for hassle-free tax paying: NBR Chief
Chairman of National Board of Revenue (NBR) Muhammad Abdul Majid has said value added tax (VAT) department will be merged with tax department in phases for making VAT and tax system hassle-free and simple for the tax payers.

Govt to resolve loan rescheduling problem of garment factories
The government has taken five decisions to resolve the loan rescheduling problem of 270 sick or closed garment factories.

DAILY MIRROR

Front Page

Kilinochchi will fall this year: Gota
Defence Secretary Gotabhaya Rajapaksa yesterday expressed confidence that the Army was on target to capture the Tiger stronghold of Kilinochchi within the next four months.

Marketing people’s woes won’t win polls - Govt
The government yesterday charged that marketing the woes of the people of the Sabaragamuwa and the North Central Provinces would not defeat the government in the upcoming provincial council polls.

Business

FT clinches Business Superbrand
The leading financial newspaper in Sri Lanka yesterday gained the much acclaimed Business Superbrands title in being recognized as having the finest reputation in its field and in representing quality, reliability and distinction.

Seylan in tie up with Korean Bank to provide special service
Seylan Bank entered into a business co-operation agreement with Korea Exchange Bank (KEB), to provide a special and an unparallel remittance service to Sri Lankan migrant workers. Korea Exchange Bank is the leading Bank in Korea which provides specialized services for migrant workers.

DAWN

Front Page

Militants attack PAF van; 13 killed: Car blast in Peshawar
Six air force personnel and seven other people were killed when a car bomb exploded near a bridge on the main Peshawar-Kohat Road in the southern part of the city on Tuesday morning.

Fata legislators call on Asif, pledge support
Support for the ruling coalition’s initiative to impeach President Pervez Musharraf continued to grow by the day as 12 legislators from the Federally Administered Tribal Areas (Fata) on Tuesday pledged their support for the move and the PPP (Sherpao) voted for it in the NWFP Assembly.

Business

CCP opposes move to fix cement prices
The Competition Commission of Pakistan (CCP) has raised objections over the new move of the ministry of industries and production to help fix the prices of cement as it amounted to promoting cartelisation.

Fundamentals of oil market easing: IEA
The International Energy Agency (IEA) in its latest report issued on Tuesday said the fundamentals of the oil market are easing because the world demand for the crude is slowing down considerably at a time when Opec production took a record upswing in recent weeks.

BUSINESS RECORDER

Front Page

Impeachment motion to be tabled in Parliament next week
Federal Information Minister, Sherry Rehman said Tuesday impeachment motion against President Musharraf would be tabled in the Parliament next week.

Oil prices edge up in Asia
World oil prices nudged higher in Asian trade on Wednesday but worries about demand were likely to cap the rise, dealers said.

Business

Bill seeks to amend fiscal responsibility law
The government has allowed the introduction of a bill further to amend Fiscal Responsibility and Debt Limitation Act, 2005, under which the government will be required to inform the Parliament before negotiating any loan with foreign governments or donor agencies.

Budgetary, balance of payments support: US turns down Pakistan request
The United States of America (USA) has turned down Pakistan's request for budgetary and balance of payments support, sources in the government told Business Recorder.

By: Staff Reporter
+44 20 8652 3214

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